Co-operative Societies (Amendment) Act 1987 (ACT)

AUSTRALIAN CAPITAL TERRITORY

Co-operative Societies (Amendment) Ordinance 1987

No. 7 of 1987

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Ordinance under the Seat of Government (Administration) Act 1910.

Dated 26 March 1987.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

G.  SCHOLES

Minister of State for Territories

An Ordinance to amend the Co-operative Societies Ordinance 1939

Short title

1.  This Ordinance may be cited as the Co-operative Societies (Amendment) Ordinance 1987.1

Principal Ordinance

2.  In this Ordinance, “Principal Ordinance” means the Co-operative Societies Ordinance 1939.2

Valuation of securities

3.  Section 14C of the Principal Ordinance is amended—

(a)by omitting from sub-section (1) all the words after “person” (last occurring) and substituting “is approved by the Registrar under sub-section (2)”;

(b)by omitting sub-section (2) and substituting the following sub-section:

“(2)  The Registrar may, in writing, approve a person for the purposes of sub-section (1) subject to such conditions (if any) as the Registrar thinks fit.”;

(c)by omitting form sub-section (3) “this section” and substituting “sub-section (2)”; and

(d)by omitting from sub-section (3) “Forty dollars” and substituting “$40”.

Review of decisions

4.  Section 80A of the Principal Ordinance is amended by omitting paragraphs (a) and (b) and substituting the following paragraphs:

“(a)refusing to approve a person under sub-section 14C (2) or 14GA (2);

(b)including a particular condition in an approval under sub-section 14C (2) or 14GA (2);

(c)revoking an approval under sub-section 14C (2) or 14GA (2);

(d)refusing to consent to a proposed purchase or repayment of shares under sub-section 25 (2); or

(e)refusing the consent to a proposed investment under section 37A.”.

Notification of decisions

5.  Section 80B of the Principal Ordinance is amended—

(a)by omitting sub-section (1) and substituting the following sub-section:

“(1)  Where the Registrar makes a decision referred to in section 80A, the Registrar shall cause notice in writing to be given—

(a)in the case of a decision referred to in paragraph (a), (b) or (c)—to the relevant society and to the person whose interests are affected by the decision; or

(b)in the case of a decision referred to in paragraph (d) or (e)—to the society whose interests are affected by the decision,

setting out the decision and giving reasons for the decision.”;

(b)by omitting from sub-section (2) “statement” (first and last occurring) and substituting “notice”;

(c)by omitting from sub-section (2) “adversely”; and

(d)by omitting from sub-section (3) “statement” and substituting “notice”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 2 April 1987.

2. No. 9, 1939 as amended by No. 1, 1946; No. 14, 1950; No. 10, 1956; No. 18, 1958; Nos. 3 and 7, 1962; No. 10, 1963; No. 18, 1966; No. 6, 1972; Nos. 16 and 29, 1973; Nos. 35 and 47, 1974; Nos. 13 and 15, 1975; No. 14, 1977; No. 46, 1978; No. 35, 1979; Nos. 38, 89 and 90, 1982; No. 11, 1984; Nos. 4, 38, 67 and 74, 1985; Nos. 9, 10, 31, 40 and 75, 1986.